Big Overseas Investments In Real Estate

Spanish real estate developer Metrovacesa plans to invest $5.7 billion in offices across Europe to become less dependent on Spain’s shrinking residential property market. Metrovacesa will spend the money in Germany, the U.K., France and its home market by the end of 2010.

Gulf Finance House E.C., Bahrain’s biggest investment bank, signed an agreement with Libya’s government to invest $3.8 billion in a business park for energy companies in the African state. Energy City Libya will span 528 acres in Sabratha, about 45 miles west of Tripoli.

Kardan, the Dutch-Israeli investor in real estate and finance companies, plans to invest around $1.2 billion to develop housing and commercial centers in China and India. Kardan presently has six real estate developments in China and one in India.

GMH Communities Trust, the U.S. provider of housing to students and the military, ready to be bought in two transactions for a overall of $787 million. GMH will sell its military housing unit to Balfour Beatty and the rest of the company will then be purchased by American Campus Communities.

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